0x (ZRX) aims at topping the $1 USD mark by the end of 2018.

The 0x (ZRX) token begun the year on high with prices oscillating around the $2 USD mark. The token has however been subject to the high volatility experienced by the general cryptocurrency industry. The token is currently valued at USD 0.51 a piece with a market capitalization of USD 277 million effectively making it the 32nd largest in the industry. The token has previously rose above USD 1 thrice since the start of the year in January, May and July and maintained the price for at least a month before coming down. The token has the potential to hit the USD 1 price again before the end of the years and here is why.

Unique decentralized nature of 0x Protocol

0x is a unique cryptocurrency. Built on the Ethereum blockchain, the platform uses smart contracts to enable for easy operation of decentralized exchanges. Its main aim is to ensure that decentralized exchanges represent every asset including both digital assets, fiat currencies and other physical assets such as gold. The ZRX platform will facilitate the introduction of various assets on the blockchain through proper tokenization. ZRX will also create a decentralized exchange on the blockchain for each of the assets to make this possible. This will give users complete control of their assets during exchange giving more security compared to centralized exchange

Related articles

0x protocol offers one of the fastest and cheapest transactions

Decentralized exchanges have trailed centralized exchanges in terms of transaction speed. This is because centralized servers typically have a number of servers through which transactions are processed. Since 0x (ZRX) powered exchange operates on the blockchain, transaction speeds will be pegged to the blockchain’s capabilities.

ZRX is also trying to reduce transaction costs by eliminating the charges paid at every interaction. Users will only be charged a single fee once the transaction has been settled. The fees are only charged for users that create their own decentralized exchange and users using 0x receive the services free of charge. Its ability to provide a decentralized exchange at zero fees has continued to help the platform gain a lot of popularity in the market.

Coinbase announcement to list 0x (ZRX) on the Paradex exchange

Coinbase, the leading crypto exchange platform announced that it plans to expand its offerings this year and speculation has been rife as to whether it plans to include the 0x protocol as well on its platform. Such a listing would increase access of the ZRX token potentially pushing its price beyond the USD 1 mark. Coinbase has been known to support digital currencies such as Litecoin which was created by its former employees. The team behind the creation of the 0x protocol consists 3 former members of coinbase adding confidence on the potential listing ZRX on the exchange. Xie, one of the former employees at coinbase is currently working with another coinbase veteran, Jordan Clifford on investment project Scalar Capital which is speculated to have invested heavily on the 0x protocol.

The backers and founders are skilled and knowledgeable in crypto legal compliance, in transaction facilitation and in understanding the market – making 0x one of the stronger emerging digital tokens. The token has shown great potential and with continued adoption of the token and development of the protocol, is set to grow even further to surpass the USD 1 mark once again.

CryptoRecorder.com is a Dedicated Cryptocurrency news website and writes a variety of educational articles related to smart crypto trading, bitcoin and altcoins. You will find a details article on almost every hot altcoin and unbiased analysis of coins.